Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.
As world leaders prepare to meet for UN climate talks in Bonn, it may come as a surprise that firms are lining up to drill, at great expense, in Europe’s northern waters where output has peaked years ago.
An armed group forced Libya’s massive el-Sharara oilfield to close late on Sunday (1 October), shutting off production of more than 230,000 barrels per day (bpd), the head of the state oil company said.
The Norwegian oil and gas giant presented its latest Energy Perspectives report in Brussels today (15 June), stressing the need to dramatically reduce global energy consumption as EU member states continued to squabble about the bloc’s energy savings objectives for 2030.
The bosses of Europe’s six largest energy companies, including BP and Shell, have said gas should play a vital role in plans to tackle global warming, in a rare public intervention aimed at influencing UN talks.
Business leaders from Norway’s energy sector urged Europeans to spell out their climate and energy goals, saying clearer policy objectives could provide a basis for the Scandinavian country to act as a stabiliser for the EU energy market.
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